News Now

Washington

CU exec among new Fed advisory groups members

WASHINGTON (1/6/09)—Credit union executive Randy Smith was named last week by the Federal Reserve Board to a two-year term on the agency’s Thrift Institutions Advisory Council (TIAC). Smith, who is president/CEO of Randolph-Brookes FCU in Live Oak, Tex., was one of six new members named to the advisory group, comprised of 12 individuals from savings and loan associations, savings banks, and credit unions. Smith is a recent trustee of the Credit Union Legislative Action Counsel, the political action committee of the Credit Union National Association (CUNA). He served on the CUNA Governmental Affairs Committee from 2000 to 2004, and was part of the National Credit Union Roundtable Advisory Council from 2006 to 2007. He was named to the CUNA Mutual Group board of directors last June. Smith will be the second credit union representative on the advisory board, joining former CUNA Board Member Christopher Jillson, whose TIAC term ends Dec. 31, 2009. Jillson is president/CEO of Sandia Laboratory FCU, Albuquerque, N.M. and a former CUNA Federal Credit Union Subcommittee chairman. Harriet May was another credit union representative on the advisory panel until her term expired Dec. 31. May is president/CEO of GECU of El Paso, Tex. and is a CUNA Board member. TIAC was established by the Fed Board in 1980. It meets three times each year with the Board of Governors to discuss developments relating to thrift institutions, the housing industry, mortgage finance, and regulatory issues. In addition to Smith, the new TIAC members, named for two-year terms that began Jan. 1, are: